The Importance of Continuous Education on Best Market Practices.
Similarly to our undertaking in 2021, 新澳门六合彩官网 FMA has contributed to the 2022 Annual Report which has been published by GDF/GBBC Digital Finance entitled 鈥淲hile Crypto has Faltered, the Tokenization of the Real Economy has Begun in Earnest鈥.
As we have partnered with GDF/GBBC Digital Finance to integrate the full content of their Code of Conduct in our ELAC Portal (for E-Learning, Attestation and Certification on industry Codes), it is only natural that we have focussed our contribution on the topic of 鈥淭he Importance of Continuous Education on Best Market Practices鈥, which you can read below and in page 52 of the 2022 Annual Report ().
The production of ongoing content, namely the Questions and Scenarios related to that Code which are being integrated in ELAC, supports the acquisition of knowledge and best market practices that are required by all market participants in digital finance business, therefore 新澳门六合彩官网 FMA dedicates efforts and resources on the creation of that content on a continuous basis.
We would like to thank GDF/GBBC Digital Finance for their cooperation and valuable assistance to our 新澳门六合彩官网 FMA members, who are longstanding proponents and influencers of ethical conduct and good market practices to financial markets professionals.
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Full 新澳门六合彩官网 FMA contribution to 2022 Annual Report
The Importance of Continuous Education on Best Market Practices
As the leading global trade association that represents the interests of professionals working in wholesale financial markets, 新澳门六合彩官网 (新澳门六合彩官网 FMA) has a long history, tradition, knowledge, and competence in the promotion and development of codes of conduct and good practices that assist the enhancement of fair, honest, and appropriately transparent financial markets where all participants can trade with confidence and with integrity.
At 新澳门六合彩官网 FMA, we believe that the financial markets community needs a drastic change of culture so that we can avoid the repetition of unfortunate past events that damaged the reputation of our industry and the efficiency of these markets. For us, it is important that such change is supported by codes of conduct and good market practices, built by the industry with an aim to serve the industry.
Given that our three core values are ethical conduct, education, and membership, it is perfectly natural that, as a non-profit organization, 新澳门六合彩官网 FMA鈥檚 projects are strongly geared to the development of educational tools that allow all market participants to train and certify themselves on a continuous basis, to recognized industry guidelines of good market practices.
In our view, the GBBC Digital Finance Code of Conduct falls into that category, as its ten parts are widely recognized as standards and voluntary principles of good personal and professional behaviour for all market participants in digital finance.
Therefore, 新澳门六合彩官网 FMA and GBBC Digital Finance have partnered to integrate the full content of the GBBC Digital Finance Code of Conduct into the ELAC Portal, for E-Learning, Attestation and Certification on industry codes. This is a tool built and designed by 新澳门六合彩官网 FMA to help entities and individuals understand and attest to their guidelines on an ongoing basis, so that they can show sustained and constant proof of adherence to good market practices. The ten parts of the Code were uploaded into ELAC in December 2022, and they are now available for all interested ELAC users.
To support that release, 新澳门六合彩官网 FMA and GBBC Digital Finance have spent most of 2022 producing current, relevant, and regular content that aims to test the knowledge of the ELAC users, both to the theoretical part of the GBBC Digital Finance Code of Conduct (terminology, glossary, definitions, etc) and also to the practical implementation of their guidelines through 鈥渞eal life鈥 scenarios built with fictional entities and characters demonstrating a diverse number of roles for market participants in all sectors of the digital finance industry.
We believe that the addition of the GBBC Digital Finance Code of Conduct will be an important complement to the current content already included in the ELAC Portal, such as the FX Global Code, the Global Precious Metals Code, and the UK Money Markets Code, amongst others.
The importance of continuous education has increased in recent years, and we believe that it reinforces the learning, comprehension, and implementation of good market practices, as they are paramount to the improvement of ethical behaviour and market integrity of all individual market participants. The integration of the GBBC Digital Finance Code of Conduct into the ELAC Portal allows those participants to have one single tool that can help in the achievement of those objectives on a regular basis
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